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We expect the global automation as a service market to exhibit a CAGR of around 27% during 2021-2026.
The rising integration of industrial applications with numerous advanced technologies, such as Industrial Internet of Things (IIoT), artificial intelligence (AI), machine learning (ML), etc., is primarily driving the global automation as a service market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of Automation as a Service for remotely operating and automating repetitive processes by analyzing data generated by existing applications, across several organizations.
Based on the component, the global automation as a service market can be segmented into solution and services. Currently, solution holds the majority of the total market share.
Based on the enterprise size, the global automation as a service market has been categorized into large enterprises and small and medium enterprises, where large enterprises currently account for the largest market share.
Based on the vertical, the global automation as a service market can be bifurcated into BFSI, telecom and IT, retail and consumer goods, healthcare and life sciences, manufacturing, and others. Among these, the BFSI sector currently exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global automation as a service market include Automation Anywhere Inc., Blue Prism Limited, HCL Technologies Limited, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Kofax Inc., Microsoft Corporation, NICE, Pegasystems Inc., and UiPath.
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